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"Brian is a strong leader with a passion for technology and deep understanding of the business," said Intel Chairman Andy Bryant, in a statement. "He has the right combination of knowledge, depth and experience to lead the company during this period of rapid technology and industry change."

The Santa Clara, Calif.-based firm also announced the election of Renee James as president. James, who serves on the board of
Vodafone(VOD) and
VMware(VMW - Get Report), was chief of staff for former Intel CEO Andy Grove.

Intel last month edged past Wall Street's sales estimates in its
first quarter results even as earnings fell below forecasts.

Like other tech heavyweights, the world's largest semiconductor maker has been wrestling with the effects of the PC slowdown. During the first quarter, revenue from Intel's PC Client Group was $8 billion, down 6% year over year. Data Center Group revenue, however, was $2.6 billion, a hike of 7.5% from the same period last year.

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